While global crude oil inventories remain above the five-year average, demand could eat into the surplus because of better-than-expected growth, OPEC said. Economists at the Organization of Petroleum Exporting Countries Continue Reading
Data related to Hurricane Harvey is starting to come together. For the week ending on September 1, refinery inputs fell by 3.2 million barrels per day (mb/d), or 34 percent, Continue Reading
All data is through August 2017 and is in thousand barrels per day. The above chart does not include the 14th member of OPEC that was just added, Equatorial Guinea. Continue Reading
Saudi Arabia’s energy minister, Khalid al-Falih, right, wants OPEC to focus more on exports in a bid to lift oil prices. Above, Mr. Falih with Russian Energy Minister Alexander Novak, Continue Reading
A worker walks through the Majnoon oilfield in Basra, 420 km (261 miles) southeast of Baghdad, October 6, 2013. REUTERS/Essam Al-Sudani BAGHDAD (Reuters) – Royal Dutch Shell is seeking to Continue Reading
Although it faces mounting pressure to join OPEC’s production cuts, exempt producer Nigeria will resist any attempt to cut its oil output because it needs time at least until March Continue Reading
India reached a 14-year low in fuel demand as the effects of a massive flooding event that unfolded over the past few weeks become clearer. National oil demand fell by Continue Reading
If China, the world’s largest new vehicle market with sales of 28.03 million units last year, were to ban gasoline and diesel vehicles in the market, the impact on petroleum Continue Reading
China’s crackdown on pollution is choking output of chemicals, fuels and other materials in Shandong province as plants curb or cut operations amid random environmental checks. Beijing’s clear-sky efforts are Continue Reading
The resolution passed by the United Nations Security Council on Monday against North Korea should slash oil supplies to the isolated nation by 30% — a level which would have Continue Reading
